Stocks at Nigeria’s OTC Market Open Week Bearish
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange opened the new week in the bearish territory with a 0.49 per cent loss on Monday following a negative price movement in a bellwether, Central Securities Clearing Systems (CSCS) Plc.
The drop in the equities of the Nigerian depository company contracted the total value of stocks at Nigeria’s OTC market by N3.15 billion to N636.32 billion from N639.47 billion it finished last Friday.
Equally, the NASD Unlisted Security Index (NSI) shed 3.62 points to end the day at 732.10 points as against 735.72 points it recorded at the previous session.
CSCS Plc recorded a 87 kobo or 5.4 per cent depreciation yesterday to sell at N16.13 per share compared to N17.00 per share it traded at the preceding session.
However, the market recorded three price gainers at the trading day with NASD Plc maintaining its upward movement with a growth of 71 kobo or 9.0 per cent to close at N7.85 per unit as against the previous N7.14 per unit.
FrieslandCampina WAMCO Nigeria Plc appreciated by 57 kobo or 0.5 per cent to close at N122.57 per unit compared with N122 per unit, while Nigerian Exchange (NGX) Group Plc grew by 17 kobo or 1.3 per cent to close at N13.01 per share in contrast to N12.84 per share it traded at the last session.
There was a 2.0 per cent rise in the volume of securities traded by investors yesterday at the bourse to 3.7 million units from 3.6 million units, while the value of transactions surged by 8.4 per cent to N50.1 million from N46.2 million.
These trades were executed in 41 deals on Monday in contrast to the 35 deals carried out last Friday, indicating an increase of 17.1 per cent.
When the market closed yesterday, Geo Fluids Plc remained the most active stock by volume (year-to-date) as it has traded 1.0 billion units of its shares for N700.1 million. NGX Group Plc trailed for selling 445.7 million shares for N9.1 billion, while Food Concepts Plc was in third place with 297.5 million units worth N387.8 million.
On the flip side, NGX Group Plc was on top for exchanging 445.7 million securities worth N9.1 billion and was followed by VFD Group Plc with 9.4 million stocks valued at N3.1 billion, and Friesland with 8.4 million units worth 1.0 billion.